Central Coop. bank to enhance lending

ERODE, JULY 24. The Erode District Central Cooperative Bank has proposed to enhance its lending and the Government approval is awaited.

The Special Officer-cum-Managing Director of the bank, K.M. Vellingiri, while addressing the annual general body meeting of the bank here yesterday, disclosed this.

He said the bank also plans to hike the crop loan by 30 per cent to farmers.

The bank has earned a profit of Rs. 2.12 crores and it is maintaining its profits margin, he said

The Joint Registrar of Cooperatives, B. Joghee, said that the bank, which has a total deposit of Rs. 315 crores, had been extending loans liberally for weavers, farmers and others. It had decided to increase the non-farm sector advances also. He said 4,291 women Self-Help Groups were provided with Rs. 8 crores loan and the recovery percentage was 98 percent.

The General Manager of the Bank, P. Ranganathan, the Assistant General Manager, NABARD, S. Srinivasan, the Assistant Director of Handlooms, C. Jayaprakash, spoke.

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